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Between 2010 and 2021, the average installed cost for geothermal energy worldwide ranged between 2,700 and 5,600 U.S. dollars
per kilowatt, peaking at 5,509 U.S. dollars per kilowatt in 2012. In 2021, the average installed cost of geothermal systems stood at 3,991 U.S. dollars per kilowatt.
Source More information Survey time period 2010 to 2021 Special properties Based on 2021 U.S. dollar values Supplementary notes The source did not provide the figure for 2011. Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account Get to know the platform You only have access to basic statistics. Starter Account The ideal entry-level account for individual users
$59 $39 / Month * in the first 12 months Corporate Account Full access Corporate solution including all features. * Prices do not include sales tax. Statistics on Geothermal energy in the U.S.Overview 7
Geothermal plants 4
Electricity production 4
Consumption 4
Industry 3
Further related statistics 13
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Statista Accounts: Access All Statistics. Starting from $468 / Year Learn more about how Statista can support your business. How much does it cost for geothermal energy?On average, a homeowner can expect total expenses to reach between $18,000 to $30,000 on geothermal heating and cooling cost. This cost would cover a complete geothermal installation. The price can range from $30,000 to $45,000 with high-end ground-source heat pump systems for large homes.
Is geothermal energy cheap to run?According to the US Environmental Protection Agency, “geothermal heat pumps are the most energy-efficient, environmentally clean, and cost-effective systems for heating and cooling.” They're predictably low-maintenance, don't burn expensive fossil fuels, and can reduce energy bills by 65% or even more.
Does geothermal energy cost a lot?Your electric usage will increase with geothermal, but that additional cost won't be divided equally throughout the year. Your electric bill will likely be lower in the summer than you paid previously. You'll be spending less money overall than when heating with oil or propane – even with an increased electric bill.
What is the cost of geothermal energy yearly?Geothermal System Cost Comparison vs. Peer HVAC Systems. |